The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to implement significant changes to its management structure and terms of reference to help drive the implementation of major initiatives this year, following the approval of the measures at its annual general meeting during the MIPIM real estate trade fair in Cannes in mid-March.

"We've adopted a leaner management structure, extended the voting rights of our membership base and allowed for the possible future expansion of INREV into new areas, while ensuring we continue to be driven by the needs of institutional investors in non-listed real estate funds," INREV Chairman Johan van der Ende commented.

"We are now well positioned to push through the implementation of the host of new professional guidelines we launched last year and to focus on our two other strategic priorities for 2008